life estate

WordNet-Online
Free dictionary and thesaurus of English. Definitions, synonyms, antonyms and more...
Hint: double-click any word to get it searched!

Definitions from WordNet

Noun life estate has 1 sense

life estate, estate for life - (law) an estate whose duration is limited to the life of the person holding it
--₁ is a kind of estate
--₁ has particulars: dower

Definitions from the Web

Life Estate

A life estate is a type of real property ownership where a person has the right to use and enjoy a property for the duration of their life. It is a way of granting someone a temporary interest in a property while still maintaining ownership.

Senses:

1. Legal Sense: In legal terms, a life estate refers to an interest or right in a property that is limited to the lifespan of a specified individual.

2. Real Estate Sense: In the realm of real estate, a life estate grants an individual the right to occupy and utilize a property for their lifetime, after which the property transfers to another designated party.

Sample Sentences:

1. Legal Sense:

He granted his sister a life estate in his beach house, allowing her to live there until her death.
The life estate in the will ensured that the family home would remain with the eldest son until he passed away.

2. Real Estate Sense:

The elderly couple decided to establish a life estate to allow their daughter to live in the house until she married.
Upon her grandmother's passing, Sarah inherited the property as a life estate, granting her the right to live there until her demise.